SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 708,044 shares of the semiconductor company’s stock after acquiring an additional 25,474 shares during the quarter. Geode Capital Management LLC owned approximately 1.22% of SolarEdge Technologies worth $16,227,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SEDG. Bank Hapoalim BM raised its stake in SolarEdge Technologies by 2.5% in the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after purchasing an additional 812 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the second quarter valued at about $28,000. The Manufacturers Life Insurance Company grew its holdings in shares of SolarEdge Technologies by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock valued at $534,000 after purchasing an additional 1,175 shares during the period. KBC Group NV increased its position in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in SolarEdge Technologies by 15.6% in the 2nd quarter. ProShare Advisors LLC now owns 11,599 shares of the semiconductor company’s stock valued at $293,000 after purchasing an additional 1,569 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SEDG shares. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Roth Mkm lowered their price target on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $9.00 target price (down from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. Truist Financial reduced their price objective on SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Finally, Citigroup dropped their price objective on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $22.40.

Insider Buying and Selling

In other news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.67% of the company’s stock.

SolarEdge Technologies Stock Down 5.3 %

Shares of SolarEdge Technologies stock opened at $13.80 on Monday. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $97.27. The firm has a fifty day moving average of $14.34 and a two-hundred day moving average of $21.23. The company has a market cap of $799.71 million, a P/E ratio of -0.48 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The company had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.03) EPS. On average, analysts forecast that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current year.

SolarEdge Technologies Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.